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Principles of Finance: Unit 2, The Communist Manifesto: Summary 39 Views


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The Communist Manifesto. What was it, why do we care, and which one of the Marx brothers wrote it? (Hint: Chico's masterwork was The Comedian's Manifesto - totally different.)

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Transcript

00:00

principles of finance a la shmoop the Communist Manifesto and yep we're

00:06

reading Marx well the Communist Manifesto basic idea was that all people [book on table]

00:12

should be treated equally and that the government shouldn't be corrupt in its

00:17

management of the people solid ideas right a little difficult to put into [George Washington near lake]

00:22

practice clearly but the notion of public versus private services is an

00:26

important one in finance because public ones are held to a higher standard

00:31

well Marx believed that the scales should be tipped entirely in the [Marx in front of a scale]

00:35

government's direction ie the government should control and regulate a lot while

00:40

most modern thinkers advocate a much more balanced perspective and a wise

00:45

shoe company one said just shmoop it so that's what we'll do all right yeah [person tying their shoe]

00:50

manifesto breaks down the profits cool little beginnings got four sections and

00:54

a helpful little preface there Marx is co-author Engels he lists all the

00:58

translations publications where you gonna read this thing then angles gives

01:02

us the fundamental idea underlying the manifesto political and intellectual

01:05

ideas and therefore all of history are based on the economic system of the time

01:09

and us on class struggles yeah class and apply that to today's world do we have

01:14

class wars here mmm-hmm yeah well angle says the many exploited and oppressed

01:19

proletariat the other workers can only free themselves by both overthrowing the

01:24

few rich boos huazi capitalists and ending economic tyranny or a list of

01:29

economic classes altogether all right now under the manifesto the beginning is

01:33

made of just a few short fun paragraphs telling us that communism is haunting

01:36

Europe and that leaders are accusing each other of being communists but no [two people arguing]

01:41

one actually knows what communism really is enter the manifesto well section one

01:45

mark says that all of history is based on class struggle remember that phrase

01:49

any details arrives at the bourgeoisie yeah these rich have become the most

01:53

powerful class putting aristocracy you know kind of in the shadows the

01:57

bourgeoisie control the means of production ie the factories the heavy

02:01

machinery the agricultural land all the leverage points to put capital to work

02:05

and make it do more than just what one man can do and then

02:08

was yes only men then those evil bourgeoisie would keep all the profits

02:13

themselves well stay on top the members of the bourgeoisie have to expand its a

02:17

hungry capitalist pac-man their to go across the planet finding natural [pac-man moves across world map]

02:21

resources new customers new workers they've made life impersonal and

02:25

miserable for the workers since well now everything of course boils down to just

02:29

about the money Fugazi fights the workers and other

02:32

members of the bourgeoisie and proletariat and while they fight the

02:35

Bruges Razi themselves section 2 Marx explains what communism advocates by

02:40

looking at various objections that have been raised against it for example Marx

02:44

says the bourgeoisie accused the proletariat of wishing to get rid of all

02:48

private property but the Communists only want to get rid of boo-yah property by

02:52

putting the means of production like factories in the hands of the people

02:55

while leaving property personal belongings like jewelry and that clay [jewels]

03:00

ashtray the six-year-old made a nursery school alone you can own those Marx

03:04

concludes with some practical steps the proletariat should take once it gains

03:08

political power Karl says the proletarian says should take capital

03:12

away from the rich and abolish inheritance until class distinctions

03:16

vanish in the vanguard or temporary government withers away and no he

03:21

doesn't say anything that well everyone's have equal intelligence and

03:25

equal talent there either and he never goes into all that because yeah that's

03:29

the thing all right section three Marx criticizes

03:32

socialist and communist views of various other authors thinkers and activists

03:36

mostly he attacks these writers for wanting to merely reform the capitalist

03:40

system efforts he thinks are necessarily doomed to fail instead of downright

03:44

overthrowing it Marx also attacks these writers for wanting to set up idealistic

03:48

little colonies instead of uniting little workers for all and against the

03:52

capitalist overlords last section section 4 here Marx notes which

03:57

political parties the Communist Ally with in various countries but he makes

04:01

it clear that the Communists will speak their own minds and he calls for a

04:04

forcible overthrow of the bourgeoisie a communist revolution because you know

04:10

revolutions are bloody by Nature yeah well all that's part of the Communist [people shooting rifle]

04:13

Manifesto and no he doesn't address the fact that people come of different

04:18

talents different intelligence different drive levels like

04:21

what about the plumbing and part supplier willing to work 85 hours a week [man brings sink to shop]

04:25

to put his kid through college whereas you have the you know Union toll booth

04:29

takers who are not willing to do the same and yes so we don't get into a lot [car drives up to toll booth woman]

04:33

of that in the Communist Manifesto here but you just got to know what the

04:36

documents about or at least understand a perspective not saying it's the right

04:40

one the only country left in the world

04:41

that's a true communist country Cuba yeah let's take a little tour of what

04:46

Cuba looks like today how're you feeling there Carl yeah this

04:49

is this what you wanted

04:53

you

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